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SP500: high pull up

2023-01-11
967
Fundamental analysis:
The S&P 500 index closed up 26.75 points, or 0.69%, at 3918.84 points on January 10 (Tuesday); the World Bank: lowered the global economic growth forecast for 2023 from 3.0% in June last year to 1.7%. It was the third slowest growth rate in the past 30 years. U.S. GDP is expected to grow 0.5% in 2023, up from a 2.2% forecast last June, the weakest non-recession performance since 1970.

S&P SP500 - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the high-level bulls are oscillating and pulling up, the market is bullish, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is in the bullish zone and is slowly rising;
Long-short turning point: 3934
Suppression: 3952, 3963
Support: 3922, 3910
Trading strategy: Bullish above 3934, target 3952, 3963
Alternative strategy: bearish below 3934, target 3922, 3910

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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